Fisher Asset Management LLC Has $1.83 Million Holdings in CNB Financial Co. (NASDAQ:CCNE)

Fisher Asset Management LLC trimmed its stake in shares of CNB Financial Co. (NASDAQ:CCNE) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 81,130 shares of the bank’s stock after selling 5,769 shares during the period. Fisher Asset Management LLC owned approximately 0.39% of CNB Financial worth $1,833,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CCNE. SG Americas Securities LLC acquired a new position in CNB Financial during the 3rd quarter worth $160,000. New York State Common Retirement Fund increased its position in CNB Financial by 14.6% in the fourth quarter. New York State Common Retirement Fund now owns 7,878 shares of the bank’s stock worth $178,000 after purchasing an additional 1,006 shares during the period. Beese Fulmer Investment Management Inc. bought a new stake in CNB Financial during the 4th quarter worth about $212,000. GSA Capital Partners LLP lifted its position in CNB Financial by 78.3% during the 3rd quarter. GSA Capital Partners LLP now owns 75,336 shares of the bank’s stock valued at $1,364,000 after purchasing an additional 33,088 shares during the period. Finally, North Reef Capital Management LP grew its position in shares of CNB Financial by 2.6% during the 3rd quarter. North Reef Capital Management LP now owns 81,244 shares of the bank’s stock worth $1,471,000 after buying an additional 2,059 shares during the period. 52.35% of the stock is owned by institutional investors.

CNB Financial Price Performance

Shares of CCNE opened at $19.85 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.20. The stock has a market cap of $416.93 million, a P/E ratio of 8.34 and a beta of 0.77. The stock’s 50-day moving average price is $19.63 and its two-hundred day moving average price is $20.45. CNB Financial Co. has a 1 year low of $16.43 and a 1 year high of $23.40.

CNB Financial (NASDAQ:CCNE) last issued its earnings results on Monday, April 15th. The bank reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The firm had revenue of $54.18 million during the quarter, compared to the consensus estimate of $55.00 million. CNB Financial had a net margin of 15.96% and a return on equity of 10.73%. On average, equities analysts predict that CNB Financial Co. will post 2.23 earnings per share for the current year.

CNB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.175 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.70 dividend on an annualized basis and a yield of 3.53%. CNB Financial’s payout ratio is 29.41%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reduced their price objective on shares of CNB Financial from $23.00 to $22.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 17th.

CNB Financial Company Profile

CNB Financial Corporation operates as the bank holding company for CNB Bank that provides a range of banking products and services for individual, business, governmental, and institutional customers. The company accepts checking, savings, and time deposit accounts; and offers real estate, commercial, industrial, residential, and consumer loans, as well as various other specialized financial services.